Lease Options | What You Need To Know
John Jackson was a self-taught day trader and wanted to get involved in real estate but found that, like the stock market, there are many ways to play the game. He did quite a bit of research and found out that out of all of the strategies in real estate, lease options seemed to be a perfect fit for him, as he didn’t need any money or have to use his credit. And he could do them with essentially no risk. Unfortunately, there wasn’t much information out there, so he had to spend quite a bit of time to learn just the basics.
John started Leasing to Buy in 2003 and has since lease optioned over 600 houses. He now teaches lease options classes across the nation and is especially known as the ONLY person that teaches lease options in Texas.
What you’ll learn about in this episode:
- What you need to know about lease options
- How a high percentage of people who get into lease options and purchase within the first 12 months
- The B.U.C.K. system and why John is such a big proponent of it
- Best way to manage leads
- Breakdown of how lease options work in Texas
- The difference between a fee simple title and a mortgage
- Why John has always been fascinated by the mindset of the real entrepreneur and how it led to the creation of his new podcast
- The importance of learning more from your mistakes than from your successes
- The value of working with a mentor
- Asking yourself what you can give to a person vs. what you can take from them